VanEck CEO Predicts Bitcoin’s Rise to $350,000, Matching Half of Gold’s Market Cap
In a recent interview, Jan van Eck shared a bold prediction about Bitcoin (BTC) trading for this year.
VanEck is a global investment management firm known for its innovative approach to asset management, offering a wide range of exchange-traded funds (ETFs) and mutual funds. Their fund managers focus on emerging markets, gold, and cryptocurrencies, aiming to provide investors with forward-looking and unique investment opportunities. VanEck has been a key player in introducing Bitcoin ETFs and other digital asset-related products.
In a recent interview with Fox Business, VanEck CEO Jan Van Eck stated that Bitcoin is maturing and predicted it would eventually reach half the total market capitalization of gold, which he estimated to be around $350,000.
The VanEck CEO clarified that he is currently bullish on Bitcoin and optimistic about the current sentiment around the crypto space, as the US presidential election is nearing.
On the topic of investments, Van Eck stressed the importance of holding assets that can hedge against fiscal instability amid economic turbulence. He asserted that gold and Bitcoin are the “God” assets for weathering potential economic challenges.
Jan is supportive of the current US president, Kamala Harris, and expects she will win the upcoming presidential election. However, it is unclear why he is bullish on Bitcoin, considering Harris as a potential winner in the election, as the Biden administration is currently ruling the USA financial system with crypto-hating regulatory bodies and crypto-skeptic leaders.
On the other hand, some experts believe that the rally in Bitcoin’s trade price will continue in a stepwise increment, but the victory of former US president Donald Trump may lead to a greater pump in trade prices compared to Harris.
Bitcoin Price Action
The current trade price of Bitcoin (BTC) is $62,864, up 4.5% over the last 7 days.
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